Brent crude falling to its lowest in nearly a month. Oil prices on Monday extended declines from the end of last week amid a wider market sell off and a stronger dollar.Brent was down 57 cents, or 0.8 percent, at $68.01 a barrel at 0716 GMT, after falling 1.5 percent on Friday. Brent’s weekly drop…
Total has signed an agreement to sell a 25% interest in the Exploration Block 11B/12B, offshore South Africa, to Qatar Petroleum. The transaction remains subject to regulatory approval. “This transaction enhances the partnership on Block 11B/12B in preparation for the high potential exploration well scheduled to be drilled on the block at the end of…
By Oke Peter EnergyNet Limited has announced its 4th Powering Africa: Summit (PAS). The event will take place from 28th February – 2nd March 2018 at the Marriott Marquis Hotel in Washington, D.C. The annual Powering Africa: Summit is a platform to showcase power, trade and infrastructure investment opportunities across the African continent, and engaging…
The Nigerian Pipeline Storage Company (NPSC), one of the downstream subsidiaries of the Nigerian National Petroleum Corporation NNPC, is set to partner with the private sector to build more pipelines parallel to the corporation’s existing ones.The Group Managing Director of the NNPC, Dr. Maikanti Baru, urged the new Board of the NPSC during their inauguration…
Petroleum Tanker Drivers Branch of the Nigeria Union of Petroleum and Natural Gas Workers (NUPENG) has assured the Nigerian National Petroleum Corporation (NNPC) that it had no plan to embark on any strike action.PTD Chairman, Otunba Oladiti Salman, who spoke with the NNPC Group General Manager, Group Public Affairs, Mr. Ndu Ugbamadu, on Friday stated…
*NNPC GMD, Dr Maikanti Baru.The Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), Dr. Maikanti Baru, Friday in Abuja has appealed to the leadership of the Nigeria Union of Petroleum and Natural Gas Workers (NUPENG) to reconsider the 15-day ultimatum it issued government over what the union described as lingering labour related issues…
CNOOC Limited has announced its business strategy and development plan for the year 2018.The Company’s net production target for 2018 is 470 million to 480 million barrels of oil equivalent (BOE), of which, production from China and overseas accounts for approximately 64% and 36%, respectively. The Company’s net production for 2017 is expected to be approximately 469…
The Organization of the Petroleum Exporting Countries (OPEC) will host the 7th OPEC International Seminar at the Imperial Hofburg Palace in Vienna, Austria, on 20−21 June 2018 under the theme, ‘Petroleum – cooperation for a sustainable future’. The Seminar will provide fresh impetus to key petroleum industry issues and challenges, helping to enhance existing avenues of…
Exxon Mobil Corporation has announced an estimated 2017 earnings of $19.7 billion, or $4.63 per share assuming dilution, compared with $7.8 billion in 2016. U.S. federal tax reform in the fourth quarter resulted in a non-cash earnings gain of $5.9 billion, due to revaluation of deferred income tax balances. Non-cash asset impairments of $1.5 billion were recorded during…
*Dr Ibe Kachikwu, Minister of State for Petroleum Resources. By Energy Worth Nigeria and the Niger Republic, will in 60 days time sign binding bilateral and technical agreements that will enable both countries develop and build a new petroleum refinery in a Katsina State town which borders both countries, the Ministry of Petroleum Resources has…
